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COVID-19 Outbreak: Tips for transplant patients and those on immunosuppressants

What is COVID-19?
It is a virus that causes a respiratory illness which can be mild for some and very severe for others.

What are the signs & symptoms of a COVID-19 infection?
Common symptoms include fever (temperature ≥ 37.5°C), cough, sore throat and shortness of breath. Some people also have gastrointestinal symptoms like tummy aches and diarrhea. Those with more severe disease may have constitutional symptoms like fatigue and muscle ache.

If you are on immunosuppressants, your symptoms may be different and possibly more severe. Inform your doctor EARLY if you do not feel well.

How is COVID-19 spread?
Person-to-person spread is the main way of disease transmission. This occurs between people in close contact with one another (<2 metres), or through respiratory droplets when an infected person coughs or sneezes.

It may be possible to acquire COVID-19 by touching surfaces and then touching your face.

When do these symptoms start?
Symptoms can start anywhere between 2 days to 2 weeks following exposure to the virus.

Who is at risk of getting very sick from COVID-19?
Data so far shows that adults > 60 years old and people with chronic medical conditions such as diabetes mellitus, chronic kidney disease and heart disease tend to have a more severe illness.

How to prevent COVID-19 infection?
1. Good Hand Hygiene
• Wash your hands with soap & water for at least 20 seconds (sing “Happy birthday” twice); or
• Use an alcohol-based hand sanitizer that contains ≥60% alcohol.
• Clean your hands before & after touching your face, after touching public surfaces in a public place.

2. Clean & Disinfect surfaces
• Routinely clean frequently touched surfaces such as tables, door knobs, light switches, drawer handles, water taps, cell phones, toilets.

3. Practice Social Distancing
• Keep a distance of at least 2 meters between yourself and others in public areas.

What should we avoid?
1. Do not stop or reduce your immunosuppressants without consulting your doctor.

2. Avoid frequent contact between patients & health care workers. Call your Transplant Physician, nephrologist or clinic if you feel unwell. Do not turn up in the clinic unannounced.

3. Avoid touching your face as much as possible. Wash your hands right after touching your face.

4. Avoid touching frequently-used public areas eg. lift buttons, door handles, handrails. Use a tissue if you must touch something, then dispose of the tissue.

5. Avoid crowds, especially in poorly ventilated areas.

 

What to do if you fall sick?
If unwell, call your Transplant Physician, nephrologist or clinic & speak to them. They will decide, after talking to you, if you need to go in to the clinic/hospital.

If you need to visit your doctor, they will plan ahead to identify you if you have fever or symptoms of a respiratory tract infection. Wear a mask before leaving your home.

Ensure you have an adequate supply of meds at home. If you have a caregiver, plan ahead to determine who can care for you should your caregiver fall sick.

Take home message
1. Be aware of warning signs of COVID-19 and have available your doctor’s contact for early medical help.

2. Have an adequate supply of medications at home.

3. Play your part with good hand hygiene and social distancing.

This article is contributed by Dr. Angeline Goh, Senior Consultant Nephrologist and Kidney Transplant Physician practicing at Mount Elizabeth Hospital, Singapore.

She has more than 20 years of experience in clinical medicine, and has spent more than 10 years caring for kidney transplant recipients and donors. Her subspecialty interest lies in Kidney Transplantation. Throughout her career, she has facilitated more than 100 Living Donor Kidney Transplants.

For more enquiries, please contact our Patient Assistance Center (Manila) at manila.ph@parkwaypantai.com or +63 917-526-7576.

BSP: Economy may shrink by 0.2%

By Luz Wendy T. Noble
Reporter

THE Philippine economy would probably shrink by 0.2% this year, central bank Governor Benjamin E. Diokno said at the weekend, a day after President Rodrigo R. Duterte again extended the lockdown for Metro Manila by two more weeks to contain a novel coronavirus pandemic.

“On an annual basis, the gross domestic product is expected to shrink by 0.2% in 2020,” he told reporters in a Viber message on Saturday. He added that the economy was likely to bounce back to about 7.7% growth next year “as the impact of the government policy gains traction.”

Mr. Diokno said the economy probably slowed in the first quarter and would contract in the next two quarters before recovering in the last quarter.

Finance Secretary Carlos G. Dominguez III earlier said the economy could shrink by as much as 1% this year.

Before the global pandemic, the government had targeted 6.5%-7.5% growth this year after a revised 6% advance in 2019.

Mr. Diokno said the Philippines was in a better position “unlike most emerging economies” despite the looming risks of recession.

He added that the country was not at risk of a debt default because of the health crisis. “The Philippines is one of the few developing countries that can borrow from multilateral institutions at largely concessional rates,” he added.

Inflation would also probably slow this year, Mr. Diokno said. “Bangko Sentral ng Pilipinas (BSP) forecasts that inflation will average at the low end of the target range at 2% in 2020, down from the previous forecast of 2.2%,” he said.

He added that the major downside risks to inflation are the decline in prices of global crude and non-oil products and the impact of COVID-19 on both global and domestic growth.

Inflation in 2021 is expected at 2.45%, slightly higher than the previous forecast of 2.4%, with BSP taking into account “strong recovery in domestic activity and higher liquidity growth,” Mr. Diokno said.

Inflation averaged 2.7% in the first three months of the year. Inflation in March eased further to 2.5% from 2.6% in February and 3.3% a year earlier.

The economic contraction could be the worst in the second quarter after Mr. Duterte locked down the entire Luzon island starting on March 17, Michael L. Ricafort, chief economist at Rizal Commercial Banking Corp., said in a mobile phone message.

Mr. Duterte extended the enhanced community quarantine twice — first until April 30 for the island and then until May 15 for Metro Manila and nearby cities.

The economy could still shrink in the third quarter “but by a lesser extent assuming there is already some easing of the lockdown and some gradual re-opening of the economy,” he said.

Ruben Carlo O. Asuncion, chief economist at UnionBank of the Philippines, Inc. said the economy might start recovering in the third quarter.

“Critical to this possible scenario is the consumption recovery and investment growth,” he said in a text message.

Mr. Ricafort said the economic outlook for the last quarter may be better assuming the coronavirus disease 2019 (COVID-19) will have been better contained by then.

“Christmas season will also help spur greater economic activities in Q4, as well as the greater effects of the stimulus measures and monetary policy easing to stimulate the economy,” he added.

Mr. Diokno expects foreign direct investments (FDI) to be hit as coronavirus worries cloud investor sentiment.

“The COVID-19 pandemic is seen to significantly but temporarily dampen foreign investment flows in the country in 2020,” Mr. Diokno said in a text message on Sunday.

“Nonetheless, resurgence is expected as soon as concerns on the pandemic dissipate and quarantines are lifted,” he added.

FDI inflows dropped by 23.1% from a year earlier to $7.647 billion last year, according to Bangko Sentral ng Pilipinas (BSP) data.

Before the pandemic, analysts had cited regulatory risks and the vagueness of the local tax reform program as factors for declining FDI flows.

Gov’t tax haul plunges in first half of April

By Beatrice M. Laforga
Reporter

GOVERNMENT TAX collections plunged in the first 15 days of April, mainly as tax payment deadlines were deferred due to lockdown measures implemented in Luzon and other parts of the country.

Citing preliminary data, the Department of Finance (DoF) on Sunday said combined collections by the Bureaus of Internal Revenue (BIR) and Customs (BoC) reached only P40.57 billion from April 1 to 15.

The figure was 87.16% short of the P315.95-billion target for the period, and 84% lower than the P260.45 billion collected during the same period in 2019.

In a statement, the DoF said the BIR collected only P25.01 billion between April 1 to 17, representing 8.66% of its P288.75-billion target for the entire month. This was also 89.5% lower than the P237.93 billion collected in April last year.

DoF attributed the decline to the deferment of tax payment deadlines for income tax returns (ITR), monthly value-added tax (VAT) returns, quarterly VAT payments, among others. The deadline for filing and payment of ITRs was moved to May 29 from April 15 originally, in light of the enhanced community quarantine (ECQ) which began in mid-March.

BIR Deputy Commissioner Arnel SD. Guballa said in a mobile phone message that another deadline extension for ITR payments is “still under evaluation,” after the ECQ in Metro Manila was extended until May 15.

For the BoC, collections reached P15.57 billion in the first half of April, 42.76% short of its P27.2-billion target and 30.89% lower than the P22.52-billion collected in the same period last year.

Customs Assistant Commissioner and Spokesperson Vincent Philip C. Maronilla earlier said that the decline in oil prices and demand has dragged its revenues.

From January 1 to April 17, the total tax haul of the two main revenue-generating agencies stood at P641.62 billion — 40% short of the P1.073-trillion target and 26.3% lower than the P871.19 billion collected in the same period last year.

BIR, which accounts for 78% of the government’s tax collection capacity, generated P480.64 billion from Jan. 1 to April 17, which was short by 45.3% of the P879.18-billion target and 32% lower year on year.

Excise tax collections slumped across all products with total payments only reaching P76.47 billion during the three-and-a-half-month period, 52.75% short of the P161.84-billion target and 33% smaller compared to last year.

“The consistent large excise tax collection drawers — tobacco and alcohol — recorded significant declines in collections,” DoF said.

Excise tax collections from tobacco products reached P33.19 billion, 42.5% lower than last year’s P57.75 billion.

On the other hand, excise tax collection from alcohol products slid 26% to P17.85 billion, from P24.09 billion a year ago.

Year-to-date, the BoC’s collections stood at P160.98 billion, falling 17% short of its P193.89-billion target and 2.08% lower than the P164.4 billion generated last year.

Finance Secretary Carlos Dominguez III earlier cited estimates by the Development Budget Coordination Committee (DBCC) that if the economy posts zero growth this year due to the effects of the pandemic, the drop in revenues will reach around P286.4 billion.

However, if growth contracts by one percent, the revenue drop would reach P318 billion.

National Treasurer Rosalia V. de Leon earlier assured that the funding gap could be covered by revenues generated by other agencies, income of the Treasury, dividends from state-owned firms and other contributions.

BIR and BoC were tasked to collect P3.307 trillion this year, with BIR’s target at P2.576 trillion and BoC’s goal at P731 billion.

PHL seeks another $500-M WB loan for coronavirus response

THE Philippine government is seeking another $500-million (P25.4-billion) loan from the World Bank (WB) to fund programs that will assist poor households and small businesses amid the coronavirus disease 2019 (COVID-19) pandemic.

The World Bank’s Board is scheduled to act on the proposed $500-million Philippines Emergency COVID-19 Response Development Policy Loan on May 20.

“The proposed operation, in the amount of US$500 million, is a stand-alone operation aimed at supporting critical policy and institutional measures taken by the government with the support of the Bank. The Development objective is to (i) mitigate the impact of COVID-19 on the poor and vulnerable households and (ii) provide financial relief to affected small and medium enterprises (SMEs),” the program information document read.

The Washington-based multilateral lender said the Philippine government’s direct cash aid program to 18 million of the poorest families and those in informal sectors; unemployment benefit program; and financial support to displaced overseas Filipino workers will have “positive impact in containing the expansion of poverty in the short-term.”

As the Luzon-wide enhanced community quarantine (ECQ) halted economic activities, the government rolled out social protection programs such as the P205-billion cash aid program to 18 million poor families and the P51-billion wage subsidy program for employees of small businesses.

“These support measures will help cushion the impact on poverty, by ensuring basic needs of poor and vulnerable households will be met during the ECQ despite the income losses incurred. These will prevent an increase in post-COVID poverty,” World Bank said.

WB estimates showed that “post-COVID-19 poverty” in the country could increase by 3.3 percentage points without government intervention while incomes could fall by 16.7% for workers in the informal sector or those under the “no work, no pay” scheme and other entrepreneurial activities due to disruptions caused by the lockdown.

Meanwhile, the WB said the government programs supporting the SME sector such as the two-tranche wage subsidy, credit guarantee scheme and tax breaks are “crucial in preventing small business owners from closing and millions of small business workers from losing their jobs.”

Citing results from a rapid survey of the government, it said 77% of micro and small firms and 62% of medium-sized firms were forced to close during the Luzon-wide lockdown while micro, small and medium enterprises (MSMEs) that remained open during the lockdown suffered an average 66.5% sales drop.

“Without strong government intervention, temporary closures may end up becoming permanent as these firms run out of working capital to finance ongoing fixed costs and risk eventually defaulting on their debt,” the World Bank said.

However, the “poor state of digital infrastructure” may lead to the slow implementation of the two social protection programs.

The multilateral development bank said the strong macroeconomic fundamentals of the country is “considered adequate” for the proposed project, with the economy maintaining its resilience to external and domestic shocks.

The World Bank also flagged that the project’s overall “risk rating is substantial,” largely due to the Philippines’ “political economy and governance challenges, macroeconomic, and weak institutional and implementation capacity.”

A more severe and prolonged virus outbreak is also seen to drag the country’s poverty reduction efforts and economic growth. The World Bank projected the Philippine economy to grow by three percent this year.

“A much worse outbreak that leads to an extended ECQ may risk overwhelming the government’s institutional and fiscal capacity to roll out enough health and social protection for its citizens,” it said.

Last week, the World Bank gave the green light for a $100-million loan for the country’s emergency COVID-19 response programs. It also approved earlier this month the $500-million (P25.4-billion) Third Risk Management Development Policy Loan to improve the government’s capacity to respond to natural disasters, including the COVID-19 pandemic.

On Thursday, the Asian Development Bank (ADB) has likewise approved a $1.5-billion loan to beef up the state’s coffers for coronavirus response.

The Department of Finance earlier said it targets to tap a total of $5.7 billion in financial assistance from multilateral agencies such as the World Bank and ADB. — Beatrice M. Laforga

World’s biggest central banks meet as pressure mounts to do more

GLOBAL CENTRAL BANKS remain under pressure to do more to support their economies through the coronavirus recession even after driving interest rates to record lows and pledging to spend trillions of dollars on asset purchases.

The US Federal Reserve, Bank of Japan (BoJ) and European Central Bank (ECB), which together cover almost half of global output, will all convene meetings of policy makers this week after the pandemic-driven freezing of economies and turmoil in financial markets propelled them into action.

With governments this week set to confirm multi-year expansions ended in the US and euro area in the first quarter, monetary policy makers may have to do more to limit the recession and speed the recovery. Among the options: extending the quantitative easing, helping ease credit to troubled businesses and committing to rock-bottom rates for longer.

“The extremity of the virus crisis is forcing central banks to push the limits of the possible,” said Tom Orlik, chief economist at Bloomberg Economics. “We expect the ECB to expand its fire fighting Pandemic Emergency Purchase Programme and the Bank of Japan to roll out more support for corporates. Ahead of the game in terms of the size and scope of stimulus, the Fed won’t add additional support, but will confirm it has space to do more.”

The April 28-29 Federal Reserve policy meeting will be the first scheduled gathering since January, but officials have met multiple times since then.

They have cut rates to virtually zero and rolled out a series of emergency and unorthodox lending facilities designed to backstop markets and keep credit flowing to businesses. The Fed’s balance sheet has already reached $6.57 trillion.

Economists in a Bloomberg survey have limited expectations for any substantial changes at this week’s meeting. Large majorities, 90% and 87%, said they didn’t expect policy makers to offer any additional guidance on how long they intend to keep rates near zero, or on the future pace of large-scale asset purchases.

But investors will be looking for any indications from Chairman Jerome Powell on how deep the Fed fears the recession will go and its outlook for recovery.

The central bankers are also still being lobbied to do more as they try to get their Main Street lending program up and running. There are calls from some lawmakers to allow more cities and small counties to borrow from it.

The ECB sets policy on Thursday with a heavy weight on its shoulders as governments argue over joint fiscal action.

After President Christine Lagarde told leaders last week that they may have done too little, too late, and warning that the euro-area economy could shrink as much as 15% this year, they still failed to agree on how to structure a recovery fund.

Most economists expect the central bank will keep monetary policy on hold this week. It only recently pledged to bump up its asset purchases by more than a trillion euros this year, and made it easier for banks to finance their loans to companies.

But one in four respondents to a Bloomberg survey said the ECB could still boost the size of its pandemic purchase program from 750 billion euros ($812 billion) as early as Thursday. Most see it happening by September.

Having agreed last week to accept junk bonds as collateral for bank loans, there is also speculation is will add sub-investment grade assets to its purchase plan list.

After stepping up its buying of exchange-traded funds and corporate bond, the Bank of Japan will on Monday discuss allowing unlimited government bond purchases, replacing their current 80 trillion yen target, the Nikkei reported on Thursday.

Governor Haruhiko Kuroda and fellow policy makers will likely take further steps to get credit to businesses hit by the pandemic, according to a Bloomberg survey of economists.

Some 83% of 40 analysts forecast the BoJ will introduce new tools to support bank lending for businesses at a meeting now shortened to one day.

Options include increasing purchase targets for commercial paper and corporate bonds or widening a new lending operation so smaller firms can benefit via smaller banks. — Bloomberg

Inflation for low-income households picks up in March

Inflation for low-income households picks up in March

Robinsons Malls to reopen in GCQ areas by May 1

By Denise A. Valdez
Reporter

ROBINSONS Malls will start reopening in areas that will be downgraded to a general community quarantine (GCQ) this Friday, a top executive of the company said.

Robinsons Land Corp. (RLC) Senior Vice-President Arlene G. Magtibay said in an e-mail on Sunday some Robinsons Malls are preparing to resume operations by May 1.

“Robinsons Malls will open its malls in the areas that will be placed under general community quarantine (GCQ) on May 1 and follow the guidelines set by the national and local governments,” she said. “Currently, we are awaiting the re-opening guidelines from the different local government units.”

RLC is the second largest mall operator in the Philippines with 52 malls across Luzon, Visayas and Mindanao. Nine of these are in Metro Manila and 43 are in other urban areas.

While the enhanced community quarantine (ECQ) in Greater Metro Manila and select regions across the country will remain until May 15, several areas classified as low-risk or medium risk will observe a GCQ after April 30.

The Inter-Agency Task Force (IATF) monitoring the COVID-19 (coronavirus disease 2019) situation recommended several areas to be put under a GCQ, but other areas are still for evaluation in the next days.

For Robinsons Malls that will be reopening, Ms. Magtibay said the company will continue to implement existing sanitation and safety protocols and introduce new measures to mitigate the spread of the virus.

Among these is a one-meter social distancing rule at mall entrances, guided by markers that will be mounted on floors. Mall goers will be checked for their body temperature, required to wear face masks, and asked to walk through a disinfecting mat to sanitize their footwear.

Benches and other mall seating inside the mall will also be marked to maintain social distancing. Escalators will implement a three-step gap for each rider and elevators will limit the number of persons per ride.

Guards will also be roaming around the mall to disperse crowds and prohibit small gatherings to uphold social distancing.

High-contact surfaces like escalator handrails, elevator buttons, door handles, railings and parking cards will be regularly disinfected. Restrooms and dining areas will also be frequently cleaned.

Tenants will be required to have alcohol or sanitizer for mall goers entering their respective stores. A one-meter gap for queuing customers will be implemented, and store personnel will be asked to wear face masks and do a temperature screening every day.

In the draft proposal on mall operations by the IATF, mall goers are limited to those aged 21 to 59 and to present their identification cards and “not look sickly.” The number of people inside every mall is also proposed to be limited.

The proposal also wants an increase in air-condition temperature to 26 degrees Celsius and removal of free WiFi access to avoid lingering of mall goers.

RLC gets the biggest chunk of its revenues from mall operations, which reached P13.25 billion or 43% of its total P30.58 billion revenues in 2019. Its net earnings last year increased 6% to P8.69 billion.

Shares in RLC at the stock exchange were lower by 10 centavos or 0.64% to P15.50 each on Friday.

SEC warns investors of new schemes

THE Securities and Exchange Commission (SEC) continues to discover more groups that offer investment schemes to the public without proper licenses from the regulator.

Three new advisories were posted on the SEC website against groups with the following names: OnlineBiz or OnlineBiz E-Commerce; Accelerare, Accelerare PH, Accelerare Main PH, Accelerare Care Trading, or Accelerare Forex Trading; and Legit Payout or Legit Pay Out.

These three, the SEC said, are not registered with the commission and do not have the secondary authorization required for companies to solicit investments from the public.

People are advised to “exercise caution in dealing with any individuals or group of persons soliciting investments for and on behalf of said (entities).”

The SEC said OnlineBiz operates by offering a “business opportunity” which requires a minimum investment of P19,000 and guarantees a P5,000-P50,000 earning every week. The scheme also promises insurance and free travels for investors.

The regulator noted the scheme OnlineBiz employs is similar to that of Elite Entrep Blue Print, which it had previously warned the public against. It said it might be the same group as the Facebook page of OnlineBiz also carries the name Elite Entrep Blue Print in its posts.

“The public is hereby informed that OnlineBiz/OnlineBiz E-Commerce is not registered with the commission and is not authorized to solicit investments from the public, not having secured prior registration and/or license to sell securities or solicit investments…,” it said.

In the case of Accelerare, the SEC said the scheme involves getting loan investors to fund the business venture’s needs in car trading and foreign exchange trading. An investor is promised passive income through interest or payout of capital, and active income through recruitment bonuses.

“It must be clear that entities engaged in such activities (high rates of return with little to no risks) likely tend to disappear shortly to the prejudice of their stakeholders… [T]he commission encourages the public to be prudent in making or placing their monies on these entities especially during this pandemic,” it said.

Legit Payout similarly promises a “ridiculous rate of return with little or no risk,” enticing the public to invest as low as P1,000 in exchange of a 60% return of investment on top of the money invested within two weeks.

The SEC said the group is not authorized to do this, as it is not registered with the commission and does not have the secondary license needed to solicit investments.

For violation of the Securities Regulation Code, the SEC said persons behind these groups may be penalized with a fine of up to P5 million, or imprisonment of up to 21 years, or both. — Denise A. Valdez

SMC to pay nearly P12-B gov’t dues to help virus fight

SAN MIGUEL Corp. (SMC) will continue to pay P11.67 billion to the government in tax, concession and contractual payments to support the national fund in addressing the coronavirus disease 2019 (COVID-19) pandemic.

In a statement Sunday, the listed conglomerate said it was committing to give the money to the government despite an amnesty offer “to make available funds needed to respond effectively to the challenges of the pandemic.”

“[W]e remain steadfast in our commitment to assist government and continue providing assistance where it’s most needed,” SMC President and Chief Operating Officer Ramon S. Ang said in the statement.

SMC said it had paid P8.77 billion to the government, and the remaining P2.9 billion will be given before the enhanced community quarantine is lifted.

The government said last week spending in relation to the COVID-19 pandemic had reached P352.7 billion, or 88.8% of the P397 billion in capital outlays it planned to tap from the 2020 budget. President Rodrigo R. Duterte had said the government might sell state-owned properties should the need arise to support spending.

Aside from government payments, SMC will also keep giving full-time pay to its employees and extended workforce while the enhanced community quarantine is in place. More than P3 billion in full compensation with benefits have already been disbursed to 66,557 SMC employees, consultants and contract workers, it said.

“These are trying times and while we, as a company, are not immune to the challenges of this crisis, the safety and security of our workforce will always come first. We do not want them worrying about their jobs,” Mr. Ang was quoted as saying.

The San Miguel group said last week it had so far donated P1.15 billion to communities and frontliners in the form of cash, food, alcohol, fuel, free toll and personal protective equipment.

SMC booked P48.57 billion in earnings in 2019, flat from a year ago, amid lower sales from its oil and food business segments. Its shares at the stock exchange slipped 75 centavos or 0.77% to P97 apiece on Friday. — Denise A. Valdez

Governance report deadline extended

PUBLICLY listed companies are given a two-month extension to file their Integrated Annual Corporate Governance Report (I-ACGR) amid the enhanced community quarantine in Greater Metro Manila.

The Securities and Exchange Commission (SEC) said in a recent notice on its website it is allowing the submission of I-ACGR for publicly listed companies until July 30, two months from its original May 30 deadline.

The Philippine Stock Exchange, Inc. (PSE) made the same announcement on its website, noting the deadline extension will apply automatically without the need to submit a request.

But should companies prefer to submit their I-ACGR on the original May 30 deadline, the PSE said they may choose to do so.

“The leeway in complying with the reportorial requirements should allow companies to focus their efforts on coping with the impact of the COVID-19 pandemic and supporting our economy,” SEC Chairperson Emilio B. Aquino said in a statement over the weekend.

The SEC has been moving deadlines for regulatory submissions since last March, in consideration of companies that it said are challenged by the enhanced community quarantine to contain the coronavirus disease 2019 (COVID-19).

SEC Memorandum Circular No. 5 issued on March 12 extended the deadline for submitting 2019 annual reports and audited financial statements until June 30, and SEC Memorandum Circular No. 13 issued on April 21 extended the deadline for sustainability reports also until June 30.

“The resilience of the business sector is integral to the recovery of our economy,” Mr. Aquino said.

On Friday, the government extended until May 15 the enhanced community quarantine in Metro Manila, Central Luzon, Calabarzon (Cavite, Laguna, Batangas, Rizal, and Quezon) and other areas across Luzon, Visayas and Mindanao including Cebu, Iloilo and Davao.

Other areas that are deemed “low-risk” and “moderate risk” will be downgraded to a general community quarantine. — Denise A. Valdez

COVID-19’s economic impact to be tackled in BUSINESSWORLD INSIGHTS online forum on April 29

THE coronavirus pandemic sent a wave of uncertainty all over the business world. Talks of a recession worse than that of 2008 alongside volatile markets are forming an environment of fear and paranoia. When the dust of the pandemic settles, what will happen to the Philippine economy?

Aiming to provide a comprehensive and in-depth answer to that question, BusinessWorld, the country’s premier business paper, will be holding the first leg of BUSINESSWORLD INSIGHTS online forum series on April 29, 2020 at 11 a.m.

Under the first phase of BUSINESSWORLD INSIGHTS with the theme “Laying Out the Macro Scenario for Businesses Amid COVID-19”, the first leg, “Assessing the Coronavirus Pandemic’s Impact on the Philippine Economy”, will discuss COVID-19’s short-term and long-term economic implications.

Confirmed speakers are Souleymane Coulibaly, World Bank Group lead economist and program leader for equitable growth, finance and institutions practice group for Brunei, Malaysia, Philippines and Thailand; Benedicto C. Yujuico, Philippine Chamber of Commerce and Industry president; and Calixto V. Chikiamco, Foundation for Economic Freedom president and co-founder. It will be moderated by Wilfredo G. Reyes, BusinessWorld editor-in-chief.

The online forum series, scheduled every Wednesday, 11 a.m., will be shown live in BusinessWorld’s (facebook.com/BusinessWorldOnline) and The Philippine STAR’s (facebook.com/PhilippineSTAR) Facebook pages and will be uploaded in BusinessWorld’s website (www.bworldonline.com).

BUSINESSWORLD INSIGHTS seeks to give the Philippine business community a better outlook on the impact of the coronavirus pandemic on the economy and help the country prepare for post-COVID recovery by bringing in high-caliber speakers and experts to hold an intelligent online discussion, moderated by BusinessWorld editors.

Upcoming legs will discuss “Understanding the ‘New Normal’ for Businesses after the COVID Crisis” on May 6; and “COVID-19 and The Philippine Stock Market: Uncertainties and Opportunities” on May 13.

BUSINESSWORLD INSIGHTS is made possible by sponsors Megaworld Corp. and Globe Telecom, Inc.; eLearning platform partner Olern; partner organizations Management Association of the Philippines, Philippine Chamber of Commerce and Industry, Philippine Association of National Advertisers, and Bank Marketing Association of the Philippines; and media partner The Philippine STAR.

For more information, contact Shai Cordero at 09979954734 or smcordero@bworldonline.com.

NFA distributes 2.2 million bags of rice for COVID-19 relief efforts

THE NATIONAL Food Authority (NFA) said it released around 2.2 million bags of rice from its inventory for relief operations since the implementation of the enhanced community quarantine (ECQ).

Between March 16 and April 16, around 1.9 million bags of NFA rice were released to local government units (LGUs), 94,413 bags to the Department of Social Welfare and Development (DSWD), 86,655 bags to legislators, and 90,946 bags to other institutions involved in relief operations.

About 1.2 million bags were released in Luzon, followed by the Visayas with 631,460 bags, and Mindanao with 350,537 bags.

NFA Administrator Judy Carol L. Dansal said the agency is operating on weekends and holidays during the lockdown to ensure continuous buying operations from farmers as well as a readily-available supply for end-users.

“Starting March 16, NFA’s market participation had increased from 10% to as high as 17% as LGUs, the DSWD, legislators and other relief institutions chose to buy our lower-priced good quality NFA rice for distribution to families affected by the ECQ,” Ms. Dansal said.

The NFA increased its palay procurement and milling volumes to augment the national rice supply, in response to the extension of the ECQ period.

“We still expect high volumes of NFA rice withdrawals during the duration of ECQ until April 30 and beyond, as the threat of the coronavirus disease 2019 (COVID-19) infections continue. That’s why we also continue to replenish our rice stocks especially in areas with high incidence of infection,” Ms. Dansal said.

Under Republic Act 11203 or the Rice Tariffication Law, the NFA’s role was modified to focus it on domestic procurement and maintaining a rice buffer stock, which will be distributed during calamities and emergencies.

NFA rice is sold to local government units and relief agencies at P25 per kilogram. — Revin Mikhael D. Ochave

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